Elastos long term trend breakout

Last weekly move lasted around 126days +/- and moved from the bottom weekly body @ $1.07 to topping @ $3.31 about a 209% move from weekly body to top wick/weekly price. Holding current double bottom @ $1.44 another similar weekly move will most likely put ELA retesting weekly high of June 2019 @ $4.60 as RSI is showing divergence to price with continued lower lows and higher highs.

It will be very hard for Elastos to power through $4.60 to close above it on the first try, look for a high likelihood of rejection and cooldown to retest the 21 EMA. As ELA increases in price the 21 EMA should be rising above previous consolidations of about $2 giving Elastos holders plenty of support from long term consolidation around $1-$2. If Elastos closes a weekly candle above $4.60 it should mark support from long term consolidation that started Nov of 2018. This would mark ~750 days of your chance to buy your founding ticket to the new and improved decentralized internet powered by Bitcoin and the Cyber Republic.

Yorum:

From last post ELA took about 140days topping out a round $14.12. Refer back to first sentence of last post, we are looking very similar situation on 21 ema but hopefully we have confirmed support of $4.60 area. Close above last weekly high around $13+- should quickly take us to the $20 area for a continued uptrend.

Thanks for the hard work Cyber Republic!